Whirlpool Corporation · NYSE:WHR
Whirlpool — Q3 2026 Earnings Presentation
33 slides from Whirlpool's earnings presentation, Oct 27, 2026
Slide 1: Third-Quarter 2026 Earnings Review
Third-Quarter 2026 Earnings Review Tuesday, October 27, 2026 Whirlpool Corporation Confidential Whirlpool Corporation Confidential
Slide 2: Third-Quarter 2026 Earnings Review Presenters
Third-Quarter 2026 Earnings Review Whirlpool Corporation Confidential Marc Bitzer Roxanne Warner Juan Carlos Puente Ludovic Beaufils CHAIRMAN AND EXECUTIVE VICE EXECUTIVE PRESIDENT, EXECUTIVE PRESIDENT, CHIEF EXECUTIVE PRESIDENT AND CHIEF NORTH AMERICA AND KITCHENAID SMALL OFFICER FINANCIAL OFFICER GL
Slide 3: Cautionary Statement
Cautionary Statement This document contains forward-looking statements about Whirlpool Corporation and its consolidated subsidiaries ("Whirlpool") that speak only as of this date. Whirlpool disclaims any obligation to update these statements. Forward-looking statements in this document may include,
Slide 4: Non-GAAP Measures
Non-GAAP Measures This presentation includes certain non-GAAP financial measures. We supplement the reporting of our financial information determined under U.S. Generally Accepted Accounting Principles (GAAP) with certain non-GAAP financial measures, some of which we refer to as "ongoing" measures, inc
Slide 5: Agenda: Third-Quarter Results
Agenda 1 Third-Quarter Results 2 Segment Performance and Actions to Drive Margin Expansion 3 2026 Guidance and Capital Allocation Priorities Whirlpool Corporation Confidential 5
Slide 6: Whirlpool Key Messages
Whirlpool Key Messages Against a tough macro environment, we improved margins 1 sequentially—but fell short of our expectations Our pricing actions progressed, but were partially offset by 2 incremental inflationary cost headwinds New pricing actions and structural cost initiatives are 3 expected to d
Slide 7: 2026 Third-Quarter Results
2026 Third-Quarter Results PROFITABLE GROWTH ● Organic Net Sales impacted by soft industry demand in Net Sales YoY Change North America $3.7B (8.8)% ● EBIT margin sequentially improved 80 basis points to 2.6% (5.4)% organic and resulted in ongoing EPS of $(0.21) MARGIN EXPANSION ● Sequential progres
Slide 8: Ongoing EBIT Margin Drivers
Ongoing EBIT Margin Drivers Q2’26 vs Q3’25 vs (Approximate impact) Q3’26 Q3’26 Ongoing EBIT Margin 1.8% 4.5% Price/Mix +2.50 +1.00 Net Cost* +1.00 -0.75 Raw Material Inflation -0.75 -1.25 Net Tariff Impact -2.25 -1.25 Whirlpool Corporation Confidential Marketing & Technology Investments -0.25 +0.25 Cur
Slide 9: Agenda: Segment Performance and Actions to Drive Margin Expansion
Agenda 1 Third-Quarter Results 2 Segment Performance and Actions to Drive Margin Expansion 3 2026 Guidance and Capital Allocation Priorities Whirlpool Corporation Confidential 9
Slide 10: MDA NAR Third-Quarter Results
MDA NAR Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN 4% -8% 16% -45% 0.3pts -2.0pts Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Whirlpool Corporation Confidential ● Industry demand was down 3.3% in Q3 ● Solid execution of pricing actions and new product launc
Slide 11: U.S. Appliance Industry Pricing
U.S. Price Increase Realization U.S. Appliance Industry Pricing (vs Jan ‘25) Competitor Average Whirlpool Corporation Confidential Source: Publicly available sell-out data Industry Pricing in the U.S. 11
Slide 12: Industry-First Refrigerator with an In-Door Nugget Ice Maker
Industry-First Refrigerator with an In-Door Nugget Ice Maker THE FIRST REFRIGERATOR WITH DISPENSABLE NUGGET ICE Whirlpool Corporation Confidential 12
Slide 13: Industry-First Top Load Washer with a Removable Delicates Basket
Industry-First Top Load Washer with a Removable Delicates Basket Whirlpool Corporation Confidential Gently wash delicates at the same time as the rest of your laundry 13
Slide 14: Footprint Optimization Benefits Intact
Footprint Optimization Benefits Intact, Largely Impacting 2027 MANUFACTURING U.S. LOGISTICS AMANA 25% REDUCTION Multi-year modernization and optimization In local distribution center count PERRYSBURG CONSOLIDATION Unlocking greater efficiency through Of regional distribution and return vertical integra
Slide 15: MDA LAR Third-Quarter Results
MDA LAR Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN -1% 7% -33% -61% -1.0pts -3.6pts Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Whirlpool Corporation Confidential ● Excluding currency, net sales increased 2.5% year-over-year driven by higher volume, partial
Slide 16: Driving Premium Growth in Latin America
Driving Premium Growth in Latin America BRASTEMP WHIRLPOOL & BRASTEMP INDUCTION COOKTOP FRENCH DOOR REFRIGERATOR 16
Slide 17: SDA Global Third-Quarter Results
SDA Global Third-Quarter Results NET SALES ($B) EBIT ($M) EBIT MARGIN 120% 12% 6.6pts 2.1pts 42% -1% Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Q2 2026 Q3 2026 Q3 2025 Whirlpool Corporation Confidential ● Product launches and D2C channel continue to support share gains and healthy Q3 EBIT margin
Slide 18: KitchenAid SDA Innovation Supporting Growth
KitchenAid SDA Innovation Supporting Growth DESIGN SERIES LUMINAIRE STAND MIXER KITCHENAID GO CORDLESS APPLIANCES ® NOW FEATURING GRATER, SLICER, SHREDDER & VACUUM SEALER 18
Slide 19: Agenda: 2026 Guidance and Capital Allocation Priorities
Agenda 1 Third-Quarter Results 2 Segment Performance and Actions to Drive Margin Expansion 3 2026 Guidance and Capital Allocation Priorities Whirlpool Corporation Confidential 19
Slide 20: Updated 2026 Full-Year Guidance
Updated 2026 Full-Year Guidance PROFITABLE GROWTH MARGIN EXPANSION CASH CONVERSION LONG-TERM TARGETS ~$16.3B ~9.0% ~7.0% (MID-CYCLE) ANNUAL ORGANIC NET SALES ONGOING EARNINGS BEFORE INTEREST FREE CASH FLOW excludes India AND TAX, % OF NET SALES AS % OF NET SALES Net Sales YoY Change Ongoing EBIT YoY
Slide 21: 2026 Ongoing EBIT Margin Drivers
2026 Ongoing EBIT Margin Drivers (Approximate impact) Q1 Q2 Q3 Q4 FY 2025 Ongoing EBIT Margin 5.9% 5.3% 4.5% 3.3% 4.7% Price/Mix -2.75 -0.75 +1.00 +2.75 +0.25 Net Cost* -1.75 -1.50 -0.75 -1.50 -1.25 Raw Material Inflation -0.50 -0.75 -1.25 -1.25 -1.00 Net Tariff Impact nm -1.00 -1.25 -1.00 -0.75 Marke
Slide 22: 2026 Segment Guidance
2026 Segment Guidance Industry EBIT % Previous Current Previous Current MDA North America ~(5%) ~(5%) ~4.0% 2.0%+ MDA Latin America 0% - 3% 5% - 7% ~7.0% ~3.0% Whirlpool Corporation Confidential SDA Global ~Flat ~Flat ~15.5% ~15.5% 22
Slide 23: 2026 Free Cash Flow Guidance
2026 Free Cash Flow Guidance (Approximate impact in millions) 2025 2026 Comments Previous Current Cash Earnings and Other Operating Items $657 ~$600 ~$450 • Lower earnings • Investments in innovation, digital Capital Expenditures $(389) ~$(400) ~$(400) transformation and cost efficiency • Stronger cas
Slide 24: Capital Allocation Priorities
Capital Allocation Priorities • Invest ~$400M in Capex 1 Fund Organic Growth • ~100 new products launching in 2026 • Net debt below $4.5B by the end of 2026 2 Debt Paydown • ~2x long-term net debt leverage target 3 Fund Dividend • Prudent action to suspend common dividend in uncertain Whirlpool Corp
Slide 25: Closing Summary
Closing Summary ● We are focused on margin expansion through pricing and structural cost take out against a challenging macro environment ● Strong working capital discipline protects our Free Cash Flow and thus strengthens our Balance Sheet ● We expect to see operational progress as we move towards
Slide 26: Q&A and Closing Remarks
Q&A and Closing Remarks 26 Whirlpool Corporation Confidential
Slide 27: 2026 Guidance Ongoing EPS Calculation Methods
2026 Guidance Ongoing EPS Calculation Methods Basic Method: (in millions) Net Earnings (Loss) Available to Whirlpool ~$(40) Preferred Dividends ~$40 Net Earnings (Loss) Available to Whirlpool Common Shareholders ~$(80) Diluted Shares (Excluding MCP Shares) 64.0 Ongoing EPS ~$(1.30) If-Converted Meth
Slide 28: Ongoing EBIT Margin Guidance
Ongoing EBIT Margin Guidance (Approximate impact) Previous Current Comments 2025 Ongoing EBIT Margin 4.7% 4.7% Price/Mix +1.50 +0.25 • Announced pricing actions in NAR and LAR Net Cost* +1.00 -1.25 • Cost actions offset by inflation and deleverage Raw Material Inflation -0.75 -1.00 • Steel contracts at
Slide 29: 2026 Guidance Comparison to 2025
2026 Guidance Comparison to 2025 2025 As 2025 Like- 2026 MDA India* Reported for-Like Guidance Net Sales (in billions) $15.5 $0.8 ~$14.7 ~$14.5 Ongoing EBIT (in $729 $41 ~$688 ~$293 millions) Whirlpool Corporation Confidential Ongoing EBIT Margin 4.7% 5.0% ~4.7% 2.0 - 2.2% *2025 India financial data (
Slide 30: Key Assumptions - Guidance
Key Assumptions - Guidance Income Statement FY2025 FY2026E Raw Material (Inflation) / Deflation nm ~$(150M) Restructuring Costs* $63M ~$170M Interest Expense $341M ~$350M Corporate Center** $198M ~$220M Weighted-Average Diluted Shares Outstanding 56.2M 64.0M*** GAAP Earnings per Diluted Share $5.66 ~$
Slide 31: Interest and Sundry (Income) Expense and Equity Method Investment Income
Interest and Sundry (Income) Expense and Ongoing Equity Method Investment Income (Loss) Q3 (Approximate impact in millions) 2025 2026 Comments • Includes foreign exchange and hedge Net Foreign Exchange $6 $(2) (gain)/loss • 2025 interest income & 2026 Arcelik Interest (Income) Expense/Other (12) 17
Slide 32: Restructuring Cash Outlays
Restructuring Cash Outlays (Approximate impact in millions) 2025 2026E Comments Other Initiatives $29 $50 Manufacturing and footprint optimization Total $29 ~$50 Whirlpool Corporation Confidential 32
Slide 33: Whirlpool
Whirlpool Whirlpool KitchenAid JENNAI? MAYIAG AMANA BRASTEMP' Consul inQDertor